EUO vs. FOXY

Last updated Jun 4, 2026

EUO (ProShares UltraShort Euro) and FOXY (Simplify Currency Strategy ETF) are both Leveraged Currency funds. EUO is passively managed, while FOXY is actively managed. Over the past year, EUO returned 1.02% vs 20.91% for FOXY. At a 0.03 correlation, their price movements are largely independent. EUO charges 0.99%/yr vs 0.81%/yr for FOXY.

Performance

EUO vs. FOXY - Performance Comparison

The chart below illustrates the hypothetical performance of a $10,000 investment in ProShares UltraShort Euro (EUO) and Simplify Currency Strategy ETF (FOXY). The values are adjusted to include any dividend payments, if applicable.

Returns By Period

In the year-to-date period, EUO achieves a 4.54% return, which is significantly lower than FOXY's 11.55% return.

EUO

• 1D: 0.50%
• 1M: 2.09%
• YTD: 4.54%
• 6M: 3.41%
• 1Y: 1.02%
• 3Y*: -0.54%
• 5Y*: 5.54%
• 10Y*: 2.45%

FOXY

• 1D: 0.27%
• 1M: 1.51%
• YTD: 11.55%
• 6M: 7.50%
• 1Y: 20.91%
• 3Y*: —
• 5Y*: —
• 10Y*: —

*Multi-year figures are annualized to reflect compound growth (CAGR)

EUO vs. FOXY - Yearly Performance Comparison

	2026 (YTD)	2025
EUO ProShares UltraShort Euro	4.54%	-18.61%
FOXY Simplify Currency Strategy ETF	11.55%	14.75%

Correlation

The correlation between EUO and FOXY is -0.06, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.

	Correlation
Correlation (1Y) Calculated over the trailing 1-year period	-0.06
Correlation (All Time) Calculated using the full available price history since Feb 5, 2025	0.03

Return for Risk

EUO vs. FOXY — Risk / Return Rank

Compare risk-adjusted metric ranks to identify better-performing investments over the past 12 months.

EUO

EUO Risk / Return Rank: 9
EUO Sharpe Ratio Rank: 10
EUO Sortino Ratio Rank: 9
EUO Omega Ratio Rank: 9
EUO Calmar Ratio Rank: 10
EUO Martin Ratio Rank: 10

FOXY

FOXY Risk / Return Rank: 70
FOXY Sharpe Ratio Rank: 63
FOXY Sortino Ratio Rank: 68
FOXY Omega Ratio Rank: 62
FOXY Calmar Ratio Rank: 86
FOXY Martin Ratio Rank: 72

The rank (0–100) shows how this investment's returns compare to the risk taken. Higher = better. Based on the past 12 months of data, combining Sharpe, Sortino, and other metrics used by quantitative funds and institutional investors.

EUO vs. FOXY - Risk-Adjusted Trends Comparison

This table presents a comparison of risk-adjusted performance metrics for ProShares UltraShort Euro (EUO) and Simplify Currency Strategy ETF (FOXY). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.

	EUO	FOXY	Difference
Sharpe ratio: Return per unit of total volatility	0.08	2.13	-2.04
Sortino ratio: Return per unit of downside risk	0.20	3.15	-2.95
Omega ratio: Gain probability vs. loss probability	1.02	1.38	-0.36
Calmar ratio: Return relative to maximum drawdown	0.13	4.86	-4.73
Martin ratio: Return relative to average drawdown	0.28	13.60	-13.32
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month.

EUO vs. FOXY - Sharpe Ratio Comparison

The current EUO Sharpe Ratio is 0.08, which is lower than the FOXY Sharpe Ratio of 2.13. The chart below compares the historical Sharpe Ratios of EUO and FOXY, calculated using daily returns over the previous 12 months. A higher Sharpe Ratio indicates better risk-adjusted performance relative to the risk-free rate.

Sharpe Ratios by Period

	EUO	FOXY	Difference
Sharpe Ratio (1Y) Calculated over the trailing 1-year period	0.08	2.13	-2.04
Sharpe Ratio (5Y) Calculated over the trailing 5-year period	0.36	—	—
Sharpe Ratio (10Y) Calculated over the trailing 10-year period	0.17	—	—
Sharpe Ratio (All Time) Calculated using the full available price history	0.05	1.37	-1.31

Drawdowns

EUO vs. FOXY - Drawdown Comparison

The maximum EUO drawdown since its inception was -38.58%, which is greater than FOXY's maximum drawdown of -13.09%. Use the drawdown chart below to compare losses from any high point for EUO and FOXY.

Drawdown Indicators

	EUO	FOXY	Difference
Max Drawdown Largest peak-to-trough decline	-38.58%	-13.09%	-25.49%
Max Drawdown (1Y) Largest decline over 1 year	-8.05%	-4.32%	-3.73%
Max Drawdown (3Y) Largest decline over 3 years	-24.46%	—	—
Max Drawdown (5Y) Largest decline over 5 years	-25.28%	—	—
Max Drawdown (10Y) Largest decline over 10 years	-29.61%	—	—
Current Drawdown Current decline from peak	-18.43%	-1.32%	-17.11%
Average Drawdown Average peak-to-trough decline	-18.50%	-2.11%	-16.39%
Ulcer Index Depth and duration of drawdowns from previous peaks	3.73%	1.54%	+2.19%

Volatility

EUO vs. FOXY - Volatility Comparison

ProShares UltraShort Euro (EUO) has a higher volatility of 2.48% compared to Simplify Currency Strategy ETF (FOXY) at 2.17%. This indicates that EUO's price experiences larger fluctuations and is considered to be riskier than FOXY based on this measure. The chart below showcases a comparison of their rolling one-month volatility.

Volatility by Period

	EUO	FOXY	Difference
Volatility (1M) Calculated over the trailing 1-month period	2.48%	2.17%	+0.31%
Volatility (6M) Calculated over the trailing 6-month period	8.71%	7.42%	+1.29%
Volatility (1Y) Calculated over the trailing 1-year period	12.65%	9.99%	+2.66%
Volatility (5Y) Calculated over the trailing 5-year period, annualized	15.56%	15.07%	+0.49%
Volatility (10Y) Calculated over the trailing 10-year period, annualized	14.88%	15.07%	-0.19%

EUO vs. FOXY - Expense Ratio Comparison

EUO has a 0.99% expense ratio, which is higher than FOXY's 0.81% expense ratio.

Dividends

EUO vs. FOXY - Dividend Comparison

EUO has not paid dividends to shareholders, while FOXY's dividend yield for the trailing twelve months is around 8.14%.

Position	TTM	2025
EUO ProShares UltraShort Euro	0.00%	0.00%
FOXY Simplify Currency Strategy ETF	8.14%	5.51%

Frequently Asked Questions

Can I hold both EUO and FOXY in my portfolio?

EUO and FOXY have a correlation of -0.06, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.

Which is riskier, EUO or FOXY?

EUO has higher volatility (2.48%) compared to FOXY (2.17%). In terms of maximum drawdown, EUO dropped -38.58% vs FOXY's -13.09%.

Which ETF is better, EUO or FOXY?

On 1-year performance, FOXY leads with 20.91% vs 1.02% for EUO. On fees, FOXY is cheaper at 0.81% per year. On volatility, FOXY has been the lower-risk option at 2.17%. The better choice depends on whether you care most about return, fees, risk, or income.

Which ETF has performed better, EUO or FOXY?

Over the 1-year period, FOXY has performed better with a 20.91% return vs 1.02%. Past performance does not guarantee future results, so compare this with risk, fees, and fund exposure.

Which ETF is cheaper, EUO or FOXY?

FOXY is cheaper with a 0.81% expense ratio, compared with 0.99% for EUO.

Which ETF pays a higher dividend yield, EUO or FOXY?

FOXY has the higher dividend yield at 8.14%, compared with 0.00% for EUO.

What is the main difference between EUO and FOXY?

They also come from different issuers: ProShares and Simplify. Their fees differ too: 0.99% for EUO and 0.81% for FOXY.

Which has better risk-adjusted returns?

FOXY currently has the higher Sharpe Ratio (2.12 vs 0.08), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.